The ongoing battle between the Swatch Group and watch producers over proposed reductions in movements and movement parts appears to be winding down in favour of the conglomerate.
A Swiss newspaper reported mid-summer a tentative agreement had been reached between the Swiss Competition Commission (Comco) and the Swatch Group that would see the reduction of movement supplies by 70 per cent in the next six years.
Specifically, the agreement calls for a reduction in supplies of ETA movements by 30 per cent in 2014-2015; 50 per cent in 2016-2017; and 70 per cent in 2018-2019. Watchmakers were given the opportunity to comment on the decision, although that information was not available at press time. A final decision is expected by the end of the year.
